TON Secures Binance Listing, TON Coin (TON) Rallies 13%

The Open Network (TON) and its community members are in celebratory mode as their native token Toncoin [TON] secures major listing. It is the latest coin to secure clearance for listing on Binance.

Cryptocurrency Open Network (TON) recently secured a major listing for its native token, Toncoin [TON]. Binance announced that it will be listing TON on its platform.

Following the announcement, TON experienced a 13% price increase within the first three hours. The cryptocurrency was trading at $6.32 at the time of writing, showing a promising start to its listing on Binance.

The TON network has seen impressive growth in 2024, with its transaction volume quickly building up to cross the $1 billion mark. However, its journey to the $10 billion volume took a longer time.

Impressive network volume

2024 has seen the TON network enter the big leagues, with its robust transaction volumes paving the way. To put things in perspective, the daily transaction volume peaked at $4.88 billion in June 2024—a more than 4X gain in less than 12 months.

Impressive network volume was also supported by robust user growth in 2024. The network had less than 100,000 active addresses at the start of the year.

However, TON saw a robust growth in active addresses between February and June, with the total addresses peaking at 3.13 million in May.

Impressive network volume was also supported by robust user growth in 2024. The network had less than 100,000 active addresses at the start of the year.

However, TON saw a robust growth in active addresses between February and June, with the total addresses peaking at 3.13 million in May.

Toncoin ownership stats over the last six months showed that the majority of the Toncoin supply was held by whales, who have been distributing to retail traders that maintained strong demand.

Whale holdings dropped from as high as 67.16% in February to 65.41% in August.

Is your portfolio green? Check out the TON Profit Calculator

On the other hand, retail holdings grew from 6.46% in February to 9.23% in August. During the same period, investor holdings decreased from 26.38% to 25.36%.

The growth of retail addresses and holdings highlighted TON’s rapidly growing user base, an outcome that could become more pronounced over time, now that its native cryptocurrency is being listed on major exchanges.

The above is the detailed content of TON Secures Binance Listing, TON Coin (TON) Rallies 13%. For more information, please follow other related articles on the PHP Chinese website!